Question

Zen Superstore purchased boxes of buttons in bulk, paying $0.53 each. The store will sell each box of buttons for $0.77. What is the mark-up, as a percentage?

A. 38%
B. 45%
C. 40%
D. 32%

(Please show work)

Answer 1

45.3%

Explanation:

To find the mark-up, we first need to find the difference between the sale price and the cost price, which we can do by subtracting the cost price from the sale price: $0.77 - $0.53 = $0.24.

To find the mark-up as a percentage, we need to divide the mark-up by the cost price and then multiply by 100%. So, the mark-up is $0.24 / $0.53 * 100% = 45.3%.

Thus, the correct answer is 45.3%, or B.

Answer 2

B: 45%

Explanation:

To calculate the mark-up, we need to first calculate the difference between the price the store paid for each box of buttons and the price at which it will sell them. The store paid $0.53 for each box of buttons, and will sell each box for $0.77, so the difference is $0.77 - $0.53 = $0.24.

Next, we need to divide the difference by the price the store paid for each box of buttons, and then multiply the result by 100 to express the mark-up as a percentage. The mark-up is therefore ($0.24 / $0.53) * 100 = 45.28%, which we can round to 45% to get the answer. Therefore, the correct answer is option B, 45%.